They are veteran bankers, but not well-known banks. They have raised sizable war chests of cash to snap up the state’s sickest banks at bargain prices.
These private equity and investor groups also are buying weakened banks that appear salvageable, as well as some healthy banks that need fresh money to grow.
They plan to become the [...]
One of Britain’s oldest building societies, Kent Reliance, is close to sealing a £50m rescue investment from US buyout group JC Flowers in a move that would partly demutualise the 163-year-old institution.
The strange bedfellows come together as small financial institutions across Europe are being pressured by regulators to bolster the capital cushions they have in [...]
Anglo American was in focus as a leading broker mooted the prospect of a break-up of the mining giant’s international and South African businesses last night.
Bank of America Merrill Lynch said that since listing in London, Anglo has tried various ways of diluting its exposure to South Africa, where the mining industry’s contribution to GDP [...]
THE initial public offering of Agricultural Bank of China, the country’s third-largest bank, looks set to become the biggest IPO on record. On July 6th and 7th the bank raised a reported $19.2 billion in a dual listing on the Shanghai and Hong Kong stock exchanges. If the bank takes up a further 15% allotment [...]
Landmark London toy store Hamleys claims to have ended a six-year losing streak as resurgent sales and job cuts helped it edge back into the black.
Gudjon Reynisson, Hamleys’ chief executive, used annual results to draw a line under a turbulent period for the 250 year-old retailer which was thrown into turmoil during the credit crunch [...]
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